Just wanted to share my experience as someone who went through this exact situation last year. I was making around $600/month from similar online content and was terrified about filing taxes independently for the first time. The key things that helped me: 1. Set aside 25-30% of each payment for taxes (self-employment tax hits hard!) 2. Track EVERYTHING - I use a simple spreadsheet with date, amount, platform, and any expenses 3. Open a separate bank account just for this income - makes tracking so much easier 4. Consider making quarterly estimated tax payments if you're consistently earning over $400/month I ended up owing about $1,200 in taxes on $7,000 of income, but because I had been setting money aside, it wasn't a financial shock. The business expense deductions really do help - I was able to deduct my phone, internet, some clothing/accessories, and even a small portion of rent for my "home office" space. Don't let the fear of filing stop you from reporting everything properly. The IRS is surprisingly reasonable if you're honest and proactive, but they're ruthless if they catch you hiding income.

I know this might feel overwhelming since it's your first time handling taxes independently, but you're asking all the right questions! Here are the key points to remember: **Yes, you absolutely must report this income.** At $400-500/month, you're looking at $4,800-6,000 annually, which is well above any reporting thresholds. This income gets reported on Schedule C as self-employment income. **Don't worry about your mom seeing it.** You can file your own taxes completely independently. Use a generic business description like "Digital Marketing" or "Online Content Creation" - no need to be more specific. **Start preparing now:** - Open a separate bank account for this income if possible - Set aside 25-30% of each payment for taxes (you'll owe both income tax and self-employment tax) - Keep records of ALL payments received, even small ones - Save receipts for any business expenses (phone bill percentage, props, lighting, etc.) **Consider quarterly estimated payments** since you're earning consistently. This prevents a big tax bill next April. The good news is there are legitimate business deductions available to content creators that can significantly reduce your tax burden. Just make sure everything is properly documented. You've got this!

wait how do you even set up an IP PIN? asking for a friend lol

Just to add some reassurance - I work in tax prep and see this situation all the time. Once your return is "received" in the system, creating an IP PIN won't trigger any flags or cause processing delays. The IRS systems are separate - your 2024 return will continue processing normally while your new IP PIN gets set up for future use. You made a smart choice getting it set up proactively!

Different approach to consider - since the sale is definitely going to be counted in 2024 based on the closing date, you might want to look at other ways to offset that income to avoid the bracket jump. Do you have any investment losses you could harvest before year-end? Or could you make extra retirement contributions if you have any self-employment income? Maybe accelerate charitable donations you were planning for next year? Sometimes when you can't change when the income hits, you can still manage other aspects of your tax situation to mitigate the impact. Just a thought!

I went through almost the exact same situation two years ago - December 30th closing with funds arriving January 3rd. After consulting with my CPA and getting confirmation from the IRS, it's definitely based on the closing date, not when you receive the money. However, there are a few things that might help with your situation. First, make absolutely sure you're capturing ALL your selling expenses - realtor commissions, staging costs, legal fees, title insurance, any repairs you made specifically to prepare for sale, etc. These all reduce your taxable gain. Second, since you mentioned this was a rental for 5+ years, double-check your depreciation records. Sometimes people forget to claim depreciation in earlier years, and you'll be hit with depreciation recapture whether you claimed it or not. If you missed claiming depreciation you were entitled to, you might want to file amended returns for those years to get the benefit of the deductions. Also worth noting - if this pushes you into the higher bracket where the 3.8% Net Investment Income Tax kicks in, that's another layer to consider in your planning. The loss harvesting strategy mentioned above is smart if you have any losing positions. You could also look at accelerating other deductions into 2024 if possible. Good luck with the CPA consultation!

I completely understand your confusion - I had the exact same reaction when I received Form 13873-E last year! It's such an official-looking document that immediately makes you think something serious is wrong. Based on everything shared in this thread, your situation is textbook normal. The timing of your HELOC application (3 weeks ago) aligns perfectly with typical IRS processing times for transcript requests. What likely happened is your lender included Form 4506-C in your loan paperwork - it's usually buried among all the other forms you sign - and they made a small clerical error when submitting it. I went through this same panic last year when my mortgage company submitted an incorrect form. In my case, they had transposed a digit in my SSN. Once I contacted my loan officer with the 13873-E notice, they identified the error within minutes and resubmitted the corrected form. The whole thing was resolved in under a week. The silver lining here is that this notice actually shows the system is working properly - the IRS is protecting your tax information by requiring everything to be accurate before releasing transcripts to third parties. Call your loan officer Monday morning with the form in hand. They've definitely seen this before and will know exactly what to fix. This shouldn't impact your HELOC closing timeline at all!

I've been following this thread and wanted to add my perspective as someone who recently went through this exact situation. I received Form 13873-E about two months ago and had the same initial panic - the form looks so official and intimidating! Like many others here, it turned out to be related to a loan application I had submitted (in my case, an auto loan refinance). The dealership's finance office had submitted Form 4506-C to verify my income but had made an error with my address - they used the address on my driver's license instead of the address I had on file with the IRS. What really helped me was understanding that this form is actually the IRS being protective of your information, not a sign that something bad happened. They're essentially saying "we got a request for your tax info, but something doesn't match up, so we're not releasing it until everything is correct." The resolution was incredibly straightforward once I contacted my loan officer. They resubmitted the corrected form within 24 hours, and I had my loan approved within the week. No delays, no complications - just a minor paperwork hiccup that gets resolved routinely. Given your HELOC timeline, I'm confident this is exactly what happened in your case. Don't stress about it over the weekend - your loan officer will have this sorted out quickly on Monday!

I went through this exact same situation two years ago as a J-1 researcher married to a US citizen! The confusion you're experiencing is totally normal because there's a big difference between your immigration status and your tax status. Here's what I learned: As a J-1 visa holder, you're typically considered an "exempt individual" for the substantial presence test, which means those days don't count toward establishing tax residency. However, you can still choose to file jointly with your US citizen spouse by making what's called a Section 6013(g) election. This election allows you to be treated as a US resident for tax purposes only (it doesn't change your immigration status at all). You'll need to attach a signed statement to your tax return making this election - it's not just a checkbox you can mark. The pros of filing jointly usually include lower tax rates and higher standard deductions. The main con is that you'll need to report your worldwide income and may have additional reporting requirements for foreign accounts. I'd strongly recommend getting professional help for your first year doing this, especially since you mentioned the green card process. A tax professional who understands international taxation can ensure you're doing everything correctly and won't create any issues for your immigration case. Don't let the conflicting advice stress you out too much - this is a common situation and there are established procedures to handle it properly!

As someone who works in tax compliance, I want to emphasize that the conflicting advice you're getting is unfortunately very common with international tax situations. The key thing to understand is that your immigration status (J-1 visa holder) is completely separate from your tax filing status. You absolutely CAN file jointly with your US citizen spouse, but you'll need to make the Section 6013(g) election that others have mentioned. This treats you as a US resident for tax purposes only - it doesn't change your immigration status or affect your green card application. The reason your university's Workday system only shows "single" or "married filing separately" is likely because their payroll system doesn't recognize the nuances of international tax elections. HR departments often aren't equipped to handle these specialized situations. Before making the decision, consider that filing jointly means: - Your worldwide income becomes subject to US tax - You may need to file additional forms like FBAR if you have foreign accounts over $10,000 - You'll generally get better tax rates and deductions I'd strongly recommend consulting with a tax professional who specializes in nonresident/resident alien issues for your first year. They can help you complete the election properly and ensure you're meeting all requirements. The cost is usually worth it to avoid potential problems down the road.